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I have a couple of properties with variable rate mortgage, my...

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KyloHoek

28 Posts.

1

03/08/22

09:23

Post #: 62891197
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Originally posted by JimmyD75: ↑

So rates went up by 50 bps yesterday, taking the cash rate to 1.85%. The best variable rate loans available from mid-month will be upwards of 3.5%. Price declines should only gather pace from here. For those cashed up and waiting to buy at a discount next year, the script is playing out beautifully.

Some Property themes worthy of note in the media in the last few days:

- Prices in all capital cities except Adelaide are now falling
- Prices in higher end regional markets are falling as fast (or faster in Queensland) than their capitals
- The median price of top quartile suburbs in cities is falling much harder than mid-tier and lower-quartile suburbs

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I have a couple of properties with variable rate mortgage, my repayments have already gone up over $250 a month since May... Luckily I bought these properties in 2015-16 when the rate was higher than it is now, so I'm fine. People who bought since Covid might be scrambling though....
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